Terns Pharmaceuticals (NASDAQ:TERN) Cut to “Hold” at Truist Financial

Truist Financial downgraded shares of Terns Pharmaceuticals (NASDAQ:TERN) from a buy rating to a hold rating in a research note published on Tuesday morning, Marketbeat reports. They currently have $53.00 price objective on the stock, down from their previous price objective of $56.00.

Several other equities analysts have also commented on the stock. Wall Street Zen lowered shares of Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Barclays reissued an “equal weight” rating and issued a $53.00 target price (down from $56.00) on shares of Terns Pharmaceuticals in a research note on Monday. UBS Group upgraded shares of Terns Pharmaceuticals to a “strong-buy” rating in a report on Thursday, December 4th. Leerink Partners assumed coverage on shares of Terns Pharmaceuticals in a research note on Monday, February 9th. They set an “outperform” rating and a $58.00 price target for the company. Finally, BMO Capital Markets upped their price target on shares of Terns Pharmaceuticals from $35.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $56.30.

Terns Pharmaceuticals Price Performance

Shares of TERN opened at $52.72 on Tuesday. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of -51.18 and a beta of -0.37. Terns Pharmaceuticals has a 1 year low of $1.87 and a 1 year high of $53.19. The business’s 50 day simple moving average is $42.59 and its 200-day simple moving average is $30.32.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Thursday, April 2nd. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. On average, sell-side analysts expect that Terns Pharmaceuticals will post -1.19 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Amy L. Burroughs sold 71,339 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $38.10, for a total transaction of $2,718,015.90. Following the transaction, the chief executive officer directly owned 138,976 shares of the company’s stock, valued at approximately $5,294,985.60. This trade represents a 33.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Emil Kuriakose sold 942 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $52.75, for a total value of $49,690.50. Following the completion of the sale, the insider owned 105,673 shares of the company’s stock, valued at $5,574,250.75. The trade was a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 170,196 shares of company stock worth $6,568,912. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Terns Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter worth $25,000. GAMMA Investing LLC increased its stake in shares of Terns Pharmaceuticals by 762.4% during the fourth quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock valued at $35,000 after buying an additional 770 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Terns Pharmaceuticals in the second quarter valued at about $41,000. iA Global Asset Management Inc. bought a new stake in shares of Terns Pharmaceuticals in the fourth quarter valued at about $43,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Terns Pharmaceuticals in the second quarter worth about $46,000. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Company Profile

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.